Cost of Living Comparison Between Akranes and Selfoss Cost of Living Comparison Between Akranes and Selfoss

Monthly Cost of Living

Monthly costs for one person with rent: $3,536 in Akranes versus $3,462 in Selfoss.

Estimated couple costs with rent: $5,655 in Akranes versus $2,428 in Selfoss.

Monthly costs for a family of three with rent: $7,774 in Akranes versus $1,394 in Selfoss.

Living in Akranes is roughly 2% more expensive than in Selfoss, driven mainly by Eating Out.

Both cities are pricier than the global median: Akranes 166% above, Selfoss 160% above.

Meal at Budget Restaurant

$26.91 ISK 3,347

Three-Course Dinner for Two, Mid-Range

$146 ISK 18.2K

Fast Food Meal (McDonalds, etc)

$22.78 ISK 2,834

$20.38 ISK 2,535

11.78%

Cappuccino

$5.95 ISK 740

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.25 ISK 405

Water (0.33 liter bottle)

$2.35 ISK 293

Local Beer (0.5 liter draught)

$10.47 ISK 1,302

$11.83 ISK 1,472

-11.50%

Imported Beer (0.33 liter bottle)

$7.99 ISK 994

Milk (1 liter)

$1.93 ISK 239

$1.74 ISK 216

10.92%

White Bread (500g)

$2.03 ISK 252

$7.09 ISK 882

-71.37%

Rice (white) (1kg)

$3.59 ISK 446

$4.28 ISK 532

-16.12%

Eggs

$6.12 ISK 761

$6.43 ISK 800

-4.82%

Local Cheese (1kg)

$17.79 ISK 2,212

$16.96 ISK 2,110

4.89%

Chicken Fillets (1kg)

$24.14 ISK 3,003

$20.63 ISK 2,566

17.01%

Beef Round Steak (1kg)

$41.83 ISK 5,203

$32.75 ISK 4,073

27.73%

Apples (1kg)

$3.37 ISK 419

$2.69 ISK 335

25.28%

Banana (1kg)

$2.51 ISK 313

$2.65 ISK 330

-5.28%

Oranges (1kg)

$3.12 ISK 388

$2.61 ISK 325

19.54%

Tomato (1kg)

$4.80 ISK 597

$7.27 ISK 904

-33.98%

Potato (1kg)

$3.67 ISK 456

$3.18 ISK 395

15.41%

Onion (1kg)

$2.31 ISK 288

$2.07 ISK 257

11.59%

Lettuce (1 head)

$3.03 ISK 377

$3.56 ISK 443

-14.89%

Water (1.5 liter bottle)

$2.00 ISK 248

$1.38 ISK 172

44.93%

Cigarettes 20 Pack (Marlboro, Camel)

$13.81 ISK 1,718

$15.41 ISK 1,916

-10.38%

Wine (Bottle)

$22.94 ISK 2,854

Local Beer (0.5 liter bottle)

$2.88 ISK 358

Imported Beer (0.33 liter bottle)

$2.05 ISK 255

$1.14 ISK 142

79.82%

One-way Ticket (Public Transport)

$3.56 ISK 442

Public Transport Monthly Pass (Regular Price)

$71.3 ISK 8,870

Taxi Start (Normal Tariff)

$6.30 ISK 783

Taxi (Normal Tariff) (1km)

$1.06 ISK 131

Taxi 1hour Waiting (Normal Tariff)

$85.3 ISK 10.6K

Gasoline (1 liter)

$2.54 ISK 316

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$46.8K ISK 5.8M

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$52.5K ISK 6.5M

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$88.4 ISK 11.0K

SIM Card Monthly Plan (Calls and 10GB+ Data)

$27.48 ISK 3,418

Internet (50+ Mbps, Unlimited Data)

$86.9 ISK 10.8K

Cinema Ticket

$17.65 ISK 2,195

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$319 ISK 39.7K

International Primary School, 1 Child (Yearly)

$29.8K ISK 3.7M

Jeans (Levis 501 Or Similar)

$139 ISK 17.3K

Summer Dress (H&M, Zara, etc)

$62.5 ISK 7,779

Sport Shoes (Adidas, Nike)

$186 ISK 23.1K

Men's Leather Business Shoes

$268 ISK 33.3K

1-bedroom Apartment, City Center (Monthly)

$2,962 ISK 368.4K

1-bedroom Apartment, Outside City Center (Monthly)

$1,880 ISK 233.8K

$2,903 ISK 361.1K

-35.24%

3-bedroom Apartment, City Center (Monthly)

$4,874 ISK 606.2K

3-bedroom Apartment, Outside City Center (Monthly)

$3,636 ISK 452.3K

Average Monthly Net Salary (After Tax)

$5,683 ISK 706.9K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akranes: July 25, 2026

Last update for Selfoss: July 25, 2026

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Akranes vs Selfoss: Cost of Living - Frequently Asked Questions

Selfoss wins on cost – living expenses run 2% lower than in Akranes. Housing and daily spending are where you'll feel the difference most, making Selfoss the obvious pick if budget is a priority.

You'd need roughly $5,304 in Akranes and $5,192 in Selfoss to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 11% higher in Akranes. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $3,536 per month in Akranes versus $3,462 in Selfoss – a 2% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,462 in Selfoss versus $3,536 in Akranes, a $3,000 budget is realistic in Selfoss but tight or insufficient in Akranes. The gap between the two cities makes Selfoss the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Akranes and Selfoss are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Selfoss gentler on the wallet – expenses run 2% less than in Akranes. Beyond cost, consider language, visa policies, and how big the international community is in each city.